The cost of insuring a car in Ontario can vary widely based on a number of factors, including the make and model of the car, the driver’s age and driving record, and the level of coverage selected. However, some car models tend to be more expensive to insure due to their higher repair costs, theft rates, or higher risk of being involved in an accident.
Here are some of the most expensive cars to insure in Ontario:
- Luxury and high-performance vehicles: Cars such as sports cars, luxury vehicles, and high-performance vehicles tend to be more expensive to insure due to their higher repair costs, theft rates, and higher risk of being involved in an accident.
- Cars with high replacement costs: Cars with high replacement costs, such as exotic and high-end sports cars, tend to be more expensive to insure because they cost more to replace in the event of a total loss.
- Cars with high theft rates: Cars with high theft rates, such as luxury vehicles and high-performance sports cars, tend to be more expensive to insure because they are more likely to be targeted by thieves.
- Cars with high repair costs: Cars with high repair costs, such as luxury vehicles and high-performance sports cars, tend to be more expensive to insure due to the high cost of repairing these vehicles after an accident.
It’s important to remember that these are just general trends, and the cost of insuring a specific car will depend on a number of factors, including the driver’s age and driving record, the level of coverage selected, and the specific make and model of the car. To get an accurate estimate of the cost of insuring a specific car, it’s best to get quotes from multiple insurance providers.
List of the most expensive cars to insure in Ontario
Here is a list of some of the most expensive cars to insure in Ontario:
- BMW M Series, $4.221
- Mercedes-Benz AMG GT, $4.295
- Porsche 911, $4.473
- Audi R8, $4.361
- Nissan GT-R, $3.942
- Chevrolet Corvette, $4.193
- Tesla Model S, $4.021
- Lamborghini Huracan, $4.934
- Dodge Challenger SRT Hellcat, $4.568
- Ford Mustang GT, $4.495
Does a luxury car make your insurance higher?
Yes, owning a luxury car can make your car insurance higher in many cases. Luxury cars tend to be more expensive to insure due to several factors, including their higher repair costs, theft rates, and higher risk of being involved in an accident. These cars are typically more expensive to repair and replace, which can drive up the cost of insurance. Additionally, they are more likely to be targeted by thieves, which can also impact the cost of insurance.
BMW M Series
The BMW M Series is a line of high-performance sports cars developed by BMW’s in-house performance division, BMW M GmbH. The M in the name stands for “Motorsport”. The M Series cars are based on regular BMW models, but feature more powerful engines, upgraded suspension, brakes, and aerodynamics, as well as distinctive styling and interior touches.
The first M car was the BMW M1, introduced in 1978. Since then, the M division has developed numerous models, including the M3, M5, M6, and more recently, the M2, M4, and M8. Each M car is designed to provide a combination of speed, agility, and luxury, making it a favorite of enthusiasts and automotive journalists alike.
Some of the key features of the M Series cars include powerful engines, advanced suspension and handling systems, high-performance brakes, and sporty styling cues. Many of the models also feature carbon fiber and other lightweight materials to reduce weight and improve performance.
Mercedes-Benz AMG GT
The Mercedes-Benz AMG GT is a high-performance sports car developed by Mercedes-AMG, the performance division of Mercedes-Benz. The AMG GT was first introduced in 2014 and has since become one of the flagship models of the AMG line.
The AMG GT is available in several variants, including the GT, GT S, GT C, GT R, GT R Pro, and GT Black Series. Each variant features a handcrafted AMG 4.0-liter V8 biturbo engine that delivers impressive power and torque. The engine is mated to a seven-speed dual-clutch automatic transmission with paddle shifters.
The AMG GT also features a lightweight construction with a high-strength aluminum spaceframe, as well as a sophisticated suspension system that provides exceptional handling and ride comfort. Other features of the AMG GT include an advanced aerodynamics system, a high-tech interior with a digital instrument cluster, and a range of advanced safety and driver-assistance technologies.
The AMG GT has received high praise from automotive journalists and enthusiasts alike for its performance, handling, and luxurious amenities. It is a top choice for drivers who are looking for a high-performance sports car that combines speed, precision, and luxury.
Porsche 911
The Porsche 911 is a legendary sports car developed by the German automaker Porsche. First introduced in 1963, the 911 has been in continuous production for over 50 years, making it one of the longest-running sports car models in history.
Over the years, the 911 has gone through numerous updates and redesigns, but it has always maintained its distinctive rear-engine layout and classic design cues. The car is known for its exceptional performance, handling, and driving experience.
The latest generation of the Porsche 911 features a range of high-performance engines, including turbocharged and naturally aspirated flat-six engines that deliver impressive power and torque. The car also features an advanced suspension system, advanced aerodynamics, and a lightweight construction, which all contribute to its exceptional handling and agility.
The 911 is available in a variety of models, including the Carrera, Carrera S, Carrera 4, Turbo, and GT3, among others. Each model offers a unique combination of performance, luxury, and technology, making the 911 a popular choice for drivers who want a high-performance sports car that is also practical enough for everyday driving.
Audi R8
The Audi R8 is a high-performance sports car developed by the German automaker Audi. First introduced in 2006, the R8 is a two-seat, mid-engine supercar that has quickly become one of the most popular models in Audi’s lineup.
The R8 is available in two main variants: the Coupe and Spyder. Both versions feature a lightweight aluminum and carbon fiber construction, as well as Audi’s quattro all-wheel-drive system, which provides exceptional traction and handling.
The R8 is powered by a high-performance V10 engine that delivers impressive power and acceleration. The engine is mated to a seven-speed S tronic transmission, which provides lightning-fast gear changes and precise control. The car also features a range of advanced driver-assistance and safety technologies, including a rearview camera, parking sensors, and adaptive cruise control.
The R8 has received high praise from automotive journalists and enthusiasts alike for its exceptional performance, handling, and luxurious amenities. It is a top choice for drivers who want a high-performance sports car that combines speed, precision, and luxury.
In addition, the R8 has a racing heritage, with the car being the platform for the Audi R8 LMS, a successful GT3 racing car. This adds to the car’s pedigree and reputation for exceptional performance and handling.
Nissan GT-R
The Nissan GT-R, also known as the Godzilla, is a high-performance sports car developed by Japanese automaker Nissan. The GT-R was first introduced in 2007, and has since become one of the most popular sports cars on the market.
The GT-R features a sleek, aerodynamic design and is powered by a high-performance twin-turbocharged V6 engine that delivers impressive power and acceleration. The engine is mated to a six-speed dual-clutch automatic transmission with paddle shifters.
The GT-R also features Nissan’s advanced all-wheel-drive system, which provides exceptional traction and handling, especially in high-speed driving situations. Other features of the car include advanced suspension and braking systems, as well as a high-tech interior with a range of advanced safety and driver-assistance technologies.
The GT-R is available in several different trims, including the standard GT-R, the GT-R Premium, and the track-focused GT-R Nismo. Each trim offers a unique combination of performance, luxury, and technology, making the GT-R a popular choice for drivers who want a high-performance sports car that is also practical enough for everyday driving.
Chevrolet Corvette
The Chevrolet Corvette, also known as the Vette, is an iconic American sports car developed by General Motors under the Chevrolet brand. First introduced in 1953, the Corvette has been in continuous production for over 60 years, making it one of the longest-running sports car models in history.
The Corvette is known for its distinctive design, with its long hood and short deck, and its exceptional performance and handling. The latest generation of the Corvette features a mid-engine design for the first time, which has resulted in improved weight distribution and handling.
The Corvette is available in several different trims, including the Stingray, Grand Sport, Z06, and ZR1. Each trim offers a unique combination of performance, luxury, and technology, making the Corvette a popular choice for drivers who want a high-performance sports car that is also practical enough for everyday driving.
The Corvette is powered by a range of high-performance engines, including naturally aspirated V8 and supercharged V8 engines that deliver impressive power and torque. The car also features an advanced suspension system, advanced aerodynamics, and a lightweight construction, which all contribute to its exceptional handling and agility.
Tesla Model S
The Tesla Model S is a full-sized luxury electric car developed by Tesla, Inc. The Model S was first introduced in 2012, and it quickly became one of the most popular electric cars on the market.
The Model S is known for its sleek, modern design and its impressive performance and range. It is available in several different trim levels, with varying battery sizes and power outputs, ranging from the Long Range to the high-performance Plaid models.
The Model S is powered by an advanced electric powertrain that delivers quick and smooth acceleration, and allows for a longer driving range than most other electric cars on the market. It also features advanced driver-assistance technologies, such as Autopilot, which can assist with driving tasks such as lane keeping, adaptive cruise control, and self-parking.
The Model S features a luxurious and high-tech interior, with a large central touchscreen display that controls most of the car’s functions, as well as a panoramic glass roof and a range of other premium amenities.
Lamborghini Huracan
The Lamborghini Huracan is a high-performance sports car developed by the Italian automaker Lamborghini. The Huracan was first introduced in 2014 as a replacement for the popular Lamborghini Gallardo.
The Huracan is known for its aggressive and angular design, which is inspired by Lamborghini’s distinctive styling language. It is powered by a high-performance V10 engine that delivers impressive power and acceleration, and is mated to a seven-speed dual-clutch automatic transmission with paddle shifters.
The Huracan features an advanced all-wheel-drive system, which provides exceptional traction and handling, especially in high-speed driving situations. Other features of the car include advanced suspension and braking systems, as well as a high-tech interior with a range of advanced safety and driver-assistance technologies.
The Huracan is available in several different trims, including the standard Huracan, the Huracan Performante, and the Huracan EVO. Each trim offers a unique combination of performance, luxury, and technology, making the Huracan a popular choice for drivers who want a high-performance sports car that is also practical enough for everyday driving.
Dodge Challenger SRT Hellcat
The Dodge Challenger SRT Hellcat is a high-performance muscle car developed by the American automaker Dodge. The Hellcat is a variant of the Challenger, which was first introduced in 2008 and is known for its classic American muscle car styling.
The Hellcat is powered by a supercharged 6.2-liter V8 engine that delivers an impressive 717 horsepower, and is mated to a six-speed manual transmission or an optional eight-speed automatic transmission. It also features advanced performance technologies, such as launch control and adaptive suspension, which help to optimize the car’s performance and handling.
The Hellcat’s aggressive exterior design features a wide body, a distinctive front grille, and a range of other design elements that give it a menacing and powerful look. The car also features a range of high-tech interior amenities, such as a premium sound system, a large touchscreen display, and advanced safety and driver-assistance technologies.
In addition to the standard Hellcat, the Challenger is also available in several other high-performance trims, including the Hellcat Redeye and the Super Stock. Each trim offers a unique combination of performance, luxury, and technology, making the Challenger a popular choice for drivers who want a high-performance muscle car that is also practical enough for everyday driving.
Ford Mustang GT
The Ford Mustang GT is a high-performance sports car developed by the American automaker Ford. The Mustang is a legendary American muscle car that has been in production since the 1960s, and the GT is a top-of-the-line performance variant of the Mustang.
The Mustang GT is powered by a 5.0-liter V8 engine that delivers an impressive 460 horsepower and 420 lb-ft of torque, and is mated to a six-speed manual transmission or an optional 10-speed automatic transmission. It also features advanced performance technologies, such as launch control and selectable drive modes, which help to optimize the car’s performance and handling.
The Mustang GT’s iconic exterior design features a long hood, a fastback roofline, and a distinctive front grille, as well as a range of other design elements that give it a classic American muscle car look. The car also features a range of high-tech interior amenities, such as a large touchscreen display, a premium sound system, and advanced safety and driver-assistance technologies.
In addition to the standard GT, the Mustang is also available in several other high-performance trims, including the GT350 and GT500. Each trim offers a unique combination of performance, luxury, and technology, making the Mustang a popular choice for drivers who want a high-performance sports car that is also practical enough for everyday driving.
FAQs
Here are some frequently asked questions about the most expensive cars to insure in Ontario:
- What factors contribute to the cost of car insurance in Ontario? The cost of car insurance in Ontario is influenced by several factors, including your age, driving experience, driving record, location, the type of vehicle you drive, and the level of coverage you choose.
- What are some of the most expensive cars to insure in Ontario? Some of the most expensive cars to insure in Ontario include high-performance sports cars, luxury vehicles, and exotic cars. Examples may include models from brands like Ferrari, Lamborghini, Porsche, and Bugatti.
- Why are certain cars more expensive to insure than others? Cars that are more expensive to insure typically have higher repair costs, are more likely to be stolen, and may be more expensive to replace in the event of an accident. They may also be associated with higher accident rates or more severe accidents, which can increase the risk and cost of claims for insurers.
- What are some strategies for reducing the cost of car insurance for expensive vehicles? Some strategies for reducing the cost of car insurance for expensive vehicles include choosing a higher deductible, bundling insurance policies, and seeking out discounts for safety features or good driving habits. It’s also important to shop around and compare quotes from different insurers to find the best rates and coverage options for your individual needs and circumstances.
- How can I choose the right level of coverage for an expensive vehicle in Ontario? Choosing the right level of coverage for an expensive vehicle in Ontario can depend on a variety of factors, such as the age and condition of the vehicle, the driving habits of the owner, and the owner’s budget and lifestyle. It’s recommended to consult with an insurance agent or broker to review your options and understand the costs and benefits of different coverage levels.
- Are high-end cars the only ones that are expensive to insure in Ontario? While high-end cars are often more expensive to insure due to their higher value and risk of theft or damage, other factors can also impact the cost of insurance for different types of vehicles. For example, vehicles with larger engines or poorer safety ratings may also have higher insurance rates.
- How can I find out how much it will cost to insure a specific vehicle in Ontario? To find out how much it will cost to insure a specific vehicle in Ontario, you can contact an insurance provider or broker and provide the make, model, and year of the vehicle, along with your personal information and driving history. The provider can then provide a quote or estimate based on the coverage options and rates available.
- What are some coverage options that are commonly recommended for high-end cars in Ontario? Commonly recommended coverage options for high-end cars in Ontario may include collision coverage, which covers damage to your vehicle in the event of an accident, and comprehensive coverage, which covers non-collision events such as theft, vandalism, and natural disasters. It may also be advisable to carry liability coverage, which covers damages and injuries to other people and property in the event of an accident.
- Can I insure a high-end car for less by driving less frequently? Some insurance providers offer usage-based insurance programs that can lower the cost of insurance for drivers who drive less frequently or less aggressively. These programs typically use telematics technology to track driving behavior and adjust rates accordingly. However, it’s important to note that these programs may not be available for all types of vehicles or in all areas of Ontario.
- Can I get insurance coverage for a modified or custom high-end car in Ontario? Yes, it is possible to obtain insurance coverage for a modified or custom high-end car in Ontario, but the process may be more complex and the rates may be higher than for a standard vehicle. It’s recommended to consult with an insurance provider or broker who specializes in high-value or specialty vehicles to understand the options and requirements for coverage.
- Are there any insurance providers that specialize in high-end or specialty vehicles in Ontario? Yes, there are insurance providers that specialize in high-end or specialty vehicles in Ontario. These providers may have more experience and expertise in covering unique or expensive vehicles, and may offer specialized coverage options and benefits.
- What are some things I should consider when choosing an insurance provider for a high-end car in Ontario? When choosing an insurance provider for a high-end car in Ontario, you should consider factors such as the provider’s reputation, experience, coverage options, rates, and customer service. It may also be helpful to read reviews and ask for recommendations from other high-end car owners.
- What are some common mistakes to avoid when insuring a high-end car in Ontario? Common mistakes to avoid when insuring a high-end car in Ontario include underinsuring the vehicle, failing to disclose modifications or customizations, and not shopping around for the best rates and coverage options. It’s also important to read and understand the terms and conditions of your policy, and to ask questions if anything is unclear.
- Can I insure a high-end car under a standard auto insurance policy in Ontario? Yes, you can insure a high-end car under a standard auto insurance policy in Ontario, but the coverage and rates may not be sufficient for the value and risk associated with the vehicle. It may be advisable to seek out additional or specialized coverage options, or to choose an insurance provider that specializes in high-end or specialty vehicles.
- Do I need to purchase insurance for a high-end car in Ontario even if it’s not being driven? Yes, you still need to purchase insurance for a high-end car in Ontario even if it’s not being driven, as long as it’s registered and titled in your name. This is because the vehicle may still be at risk of theft, damage, or other events, and insurance is required by law in Ontario.
About the Author: Valerie D. Hahn
